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MITK · NASDAQ · Software - Application

Mitek Systems

Combines biometric identity verification with mobile check-deposit technology for banks and fintechs.

$18.85

After-hours close−0.01 (−0.05%)

At close$18.86(−1.82%)

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Profile

Mitek Systems, Inc.MITKInformation Technology

Sells software that verifies customer identities, detects fraud, and processes mobile check deposits for banks, credit unions, and fintechs. Identity and fraud tools now generate the larger share of revenue, while the check-deposit business remains a stable, long-running franchise embedded directly inside bank apps.

Two product families make up the business: an identity-verification and fraud-prevention platform combining document, biometric, and behavioral signals, and check-processing software that extracts and verifies data from check images captured on mobile, at ATMs, and in branches.

Customers are concentrated among banks, credit unions, and fintechs in the US and Canada, with a growing international footprint. Mobile Deposit sits embedded directly inside bank apps, handling an enormous volume of check images each year under long-running contracts with built-in price escalators.

The identity and fraud line has grown into the larger revenue contributor as banks defend against deepfake and synthetic-identity attacks, while the check-processing line holds steady. Anti-money-laundering rules across the US, UK, and EU underpin demand, and one customer accounts for a meaningful share of revenue.

Company facts

CEOEdward H. West

ListedJul 14, 2011

ExchangeNASDAQ

HeadquartersSan Diego, CA

CountryUnited States

Employees595

CIK0000807863

ISINUS6067102003

Key statistics

Market cap$851.2M

EPS (ttm)$0.4681

P/E (ttm)40.27

ROE9.4%

P/B3.40

P/S4.30

Dividend yield—

Beta1.57vs XLK 0.26

Year to date +89.2% · Average volume (30d) 749.5K

Analysts

Price target, next 12 months$21.50+14.1%Median of 14 analysts · vs the Aug 28 close

ConsensusBuy11 of 14 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $18.85

High$26.00+37.9%

Median$21.50+14.1%

Low$17.00−9.8%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Aug 7, 2026	Maxim Group	Target			$13	$26
Apr 15, 2026	Northland Securities	Target				$17
Feb 13, 2026	Jefferies	Upgrade	Hold	Buy	$9.50	$15
Sep 4, 2024	Jefferies	Downgrade	Buy	Hold

Earnings

EPS

Estimate$0.28

Reported$0.34+23.5%

Revenue

Estimate$50.8M

Reported$54.0M+6.3%

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 6, 2026Q3 FY26	$0.28	$0.34	+23.5%	$50.8M	$54.0M	+6.3%	+9.99%
May 7, 2026Q2 FY26	$0.26	$0.38	+46.2%	$52.6M	$54.8M	+4.3%	+1.63%
Feb 5, 2026Q1 FY26	$0.18	$0.26	+42.9%	$42.4M	$44.2M	+4.3%	+20.47%
Dec 11, 2025Q4 FY25	$0.18	$0.24	+33.3%	$41.1M	$44.8M	+9.1%	+8.87%

View details

Financial highlights

	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26
Revenue	$51.9M	$45.7M	$44.8M	$44.2M	$54.8M	$54.0M
Gross profit	$45.4M	$38.7M	$37.5M	$35.8M	$54.8M	$45.9M
Operating income	$11.4M	$3.8M	$4.7M	$5.4M	$13.5M	$11.5M
Net income	$9.2M	$2.4M	$1.9M	$2.8M	$9.5M	$8.4M
Diluted EPS	$0.20	$0.05	$0.04	$0.06	$0.20	$0.17
Gross margin	87.4%	84.6%	83.7%	81.0%	99.9%	84.9%
Operating margin	21.9%	8.3%	10.5%	12.3%	24.7%	21.4%

Fiscal years (4-quarter sums)FY21 $119.8M · FY22 $142.6M · FY23 $172.6M · FY24 $172.1M · FY25 $179.7M

Revenue by product · Q3 FY26

Service, Other$33.3M · 62%

License$20.7M · 38%

Revenue by geography · Q3 FY26

United States$43.9M · 100%

Balance sheet, Jun 30, 2026Cash & short-term investments $99.7M · Total debt $51.7M · Total assets $368.1M · Shareholders' equity $250.5M

Dividends

No dividends on record.

Ownership

Institutions 85.56%38.64M sharesInsiders 4.90%2.21M sharesOther 9.54%4.31M shares

Shares outstanding 45.16M · Float 43.80M · 97.0% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	3.54M	7.84%	13F	Aug 7, 2026
Legal & General Group PLC	2.69M	5.95%	13F	Aug 14, 2026
Price T Rowe Associates Inc /MD/	2.12M	4.69%	13F	Aug 14, 2026
Invesco Ltd.	2.07M	4.58%	13F	Aug 14, 2026
Vanguard Capital Management LLC	1.94M	4.29%	13F	Aug 13, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
May 15, 2026	Garrett Gafke	officer: Chief Operating Officer	−21,108	$14.19
Apr 28, 2026	Garrett Gafke	officer: Chief Operating Officer	−152,529	$13.92
Mar 3, 2026	Jason Gray	officer: GC, Secretary & Admin Officer	−73,174	$14.74